About 'mba degree program'|The Benefits and Drawbacks of MBA Online Degree Programs
Interest in MBA programs overall has remained steady over the past several years, but interest in the traditional full-time two year MBA has decreased significantly. According to a survey conducted by the Graduate Management Admission Council, only 28% of full-time, two-year MBA programs reported application volume going up in 2011. In the same report,41% and 45% respectively of part time and online MBA programs reported increases in admissions volume. Clearly, many prospective students are dismissing the full-time MBA as a viable option for their degree and are turning to part-time and online MBA programs to improve their skills and boost their resumes in a difficult job market. According to mbaapplicant.com , the typical MBA applicant at Duke University is 28 years old and has almost 6 years work experience. The age range of applicants to Arizona State University's MBA program, according to gmatcat.com , is 25-34. People fitting this profile sometimes find it extremely difficult to justify taking two or more years away from their careers and families to pursue a MBA degree. For that reason, more and more colleges and universities are offering flexible part time programs that are administered in part or fully online. Here are five reasons why an online MBA program might be better than an on-campus MBA. Reason #1 The Opportunity to Shop Around If you choose to participate in a full-time or part-time MBA program in an on-campus setting, you're limited in options to your geographic location. If you plan to keep your job and work on your MBA on campus, you're limited to schools within a reasonable commuting distance from your home. If you choose to suspend your career to pursue a MBA full time, you'll either have to choose a school close to home or relocate to a location near the campus you've chosen. You'll also likely have to relocate again once you've graduated and returned to your old job or a new one. Online MBA degree options allow you to evaluate hundreds of options from around the country or even around the world. This flexibility makes it possible to find a program that fits your exact needs. In most cases, multiple programs fitting your requirements will be available which gives you the opportunity to choose the best cost option and not comprise on your desired features. Reason #2 Travel is Not a Problem As we've already seen, most people interested in pursuing an MBA are already well-established in a career path. In fact, most part time or executive MBA programs require 3-8 years of post baccalaureate business experience. Naturally, many of these business professionals travel frequently on business. This can be a major disruption to their studies in an on-campus MBA program. Missed classes due to travel make life difficult for the student, their instructors and classmates, particularly when it comes to group projects. With an online program, extensive travel, even if it is for extended periods and/or international, is usually not a problem. Most of these programs allow you to study on your own time and you can complete your studies and classroom interaction any time of the day or night. Being able to complete your assignments from a hotel in London or Shanghai is a huge advantage of an online program for the frequent business traveler. Reason #3 Relocations Aren't an Issue Another common reality for the middle manager looking to move up is relocations. Depending on your industry and the nature of your business, frequently relocating in order to pursue new opportunities may be part of the job. Obviously, relocations can be difficult when pursuing an on-campus MBA. Most MBA programs place limits on or refuse to accept transfer credits so a mid-MBA relocation opportunity may force you to make a difficult decision on whether to continue your studies or take a new career opportunity. Reason #4 International and Experienced Classmates For some of the same reasons we've already discussed, online MBA programs are attractive to two very specific groups of people, international students and older students with more practical business experience. Both of these groups can contribute significantly to your MBA experience as you interact with students with extensive business backgrounds of their own and students who bring a different perspective based on the language, culture and business practices of their native country. Writing for CBS Money Watch, Maggie Overfelt, quoted Bernard van der Lande, a Fortune 500 Recruiter, as saying, "You're sitting in Michigan and you have to work a case study with someone in the Middle East and someone from China-that's Fantastic. Corporations that do international business want folks who can see the world from a global point of view." Similarly, older, more experienced classmates simply have more to contribute than their younger, less experienced colleagues. In the same article, Associate Dean for Executive MBA programs at Duke's Fuqua School of Business said, "A 40-year-old manager brings a lot more to the table than a 28-year-old." Reason #5 You Don't Have to Compromise in Quality Lingering stereotypes of "Diploma Mills" still haunt the online MBA industry, but that is rapidly changing. Many top brick and mortar business schools have entered the online market. This trend brought a dramatic increase in acceptance of online degrees as legitimate. Several top 20 schools from Business Week's B-School Rankings have added online options. A few examples are Indiana University's Kelly School of Business (#19), Duke University's Fuqua School of Business (ranked #6) and Canrnegie Mellon's Tepper School of Business (#15). These programs, in addition to those from well respected universities such as Arizona State University, The University of Florida and many others, are all accredited by the AACSB, widely considered the gold standard accrediting agency for business schools. In all of these programs, the degree and diploma you receive is exactly the same as the ones issued to students completing the on-campus part-time or full-time MBA program. As long as you stick to well-respected, accredited schools, you can confidently expect that your degree will command the same respect as one earned on campus. Not only is pursuing your MBA through an online MBA program a legitimate option, if any of the above reasons apply to you, it might actually be your best option. To explore a wide variety of online MBA programs visit www.geteducated.com or www.mbaonline.com. |
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